$65mn worth of contracts secured in H2 2022 says Penspen

In the Middle East, the firm secured several new framework agreements with major national oil companies

Energy infrastructure consultancy Penspen secured US $65mn in new contracts during the second half of 2022. The firm, which says it is committed to improving access to cleaner energy across the globe, said that its H2 sales performance continues its strong growth from the last year, and notes it is maintaining a positive outlook for 2023.

With worldwide demand for accessible and affordable energy increasing amid high commodity prices, Penspen’s expertise continues to make a positive impact across the rapidly changing global energy industry, the firm explained.

“Our skilled teams have delivered a very strong performance across all of our regions and service lines and have helped our clients meet the challenges they face in a dynamic market.” said Peter O’Sullivan, Penspen CEO.

The company said its performance in H2 demonstrates its experience in designing, maintaining, and optimising the infrastructure of energy operators, utilities, and power providers, from initial concept through to sustainable operations. It added that it’s services are in strong demand.

In late November 2020, Penspen won an EPC contract for an oil field project in Abu Dhabi.

Peter O’Sullivan, CEO, Penspen

O’Sullivan added, “The outlook for 2023 is positive. We are growing our team to respond to our clients’ increasing requests to help them invest in the essential infrastructure required to respond to the challenges of both high commodity demand and the acceleration of the energy transition.”

Discussing some of its contract wins the firm said that it secured 28 new contracts in the Middle East across its project management consultancy, detailed engineering, and asset integrity service lines, including double-digit project management and consultancy for onshore services, engineering services for a CO2 recovery and injection project, risk-based asset integrity implementation for refining, and several multi-year framework agreements across all services for a major national oil company.

Neale Carter, Executive Vice President for the Middle East, Africa and Asia Pacific Regions remarked, “The MEA team is further solidifying its position as a trusted advisor for deep engineering knowledge on energy projects, delivering real value and consistent success across engineering and project management services in the region. This has resulted in several new framework agreements with major national oil companies.”

The firm also pointed out that it secured 77 new contracts in the UK and Europe across its asset integrity, asset management, and engineering service lines including a hydrogen assessment, gap analysis and blending facility design for a national gas system in Europe.

In early January 2021, Penspen said it had been awarded an Abu Dhabi engineering services deal.

In addition, it also won 27 contracts in North America and Latin America across its asset management and asset integrity service lines, including structural analysis services for the inspection of transportation infrastructure in Colombia, and multi-year asset management agreements for one of the largest exploration and production companies in the US.

In early September 2021,Penspen said it racked-up $70mn in MEA energy contracts.


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